Economists here and abroad say Zimbabwe’s economic collapse is gaining velocity, radiating instability into the heart of southern Africa. As the bankrupt government prints ever more money, inflation has gone wild, rising from 1,000 percent in 2006 to 12,000 percent in 2007 to a figure so high the government had to lop 10 zeros off the currency in August to keep the nation’s calculators from being overwhelmed. (Had it left the currency alone, $1 would now be worth about 10 trillion Zimbabwean dollars.
No. 132 was Stanford Mafumera, 35, a security guard who spends most of his time at his job or in line at the bank; he is so poor that he sleeps beneath the overhang at the mall rather than pay for bus fare home to his family. His clothes hung loose on his gaunt body, and his dusty shoes were coming apart.
“Since Monday, Tuesday, Wednesday, there was no cash here,” he said. “We started getting cash only yesterday.”
Most days, he said, he eats only a bag of corn nuts to conserve his monthly pay — worth $10 a week and a half ago, but only $5 now because of inflation.
Each day, he buys a pack of cigarettes and sells them one by one, making an extra 20 to 30 cents. But he was unable to afford the cost of taking his 5-year-old daughter to the doctor recently when she got diarrhea after drinking dirty water from an unprotected well.
Mr. Mafumera blamed the government’s land reform program for Zimbabwe’s woes. It chased away the white commercial farmers who had made the country a breadbasket, he said, as well as donors from Britain and other European countries and the United States who sustained Zimbabwe’s starving millions for years.
“A lot of people got farms, but they can’t produce anything and this is what is causing the poverty and hunger,” he said. “There’s no food.